Company Profile: Sovy
Describe your company in 60 words or less
Sovy is the one-stop-shop for simplifying business compliance, providing cloud-based regulatory compliance solutions for Micro and Small to Medium-sized Enterprises (MSMEs) around the world. Sovy’s affordable subscription services enable a MSME to get compliant and stay compliant with privacy, conduct and anti-fraud regulations for a fraction of the cost of bringing in high-priced experts.
Why did you decide to set up a base in Ireland?
We chose Ireland as our base of operations in the fall of 2017 because of the great support system for high-tech start-ups and deep professional talent base. Crucially, Ireland also has a wide array of international trading partners, so having a base here can create major opportunities to do business with SME’s in several other countries, including Canada.
What has been the most positive aspect of doing business in Ireland?
Ireland is both people and business friendly, and there is a general positive can-do attitude that makes growing a business quite exciting.
What has been your single greatest challenge to date (of operating in Ireland), and how have you approached overcoming it?
The landscape is complex in terms of where to set up operations, and weigh the different areas, talent pools, partnerships and the like. We have been working with Enterprise Ireland (EI), the Local Enterprise Office in Meath County and trade groups to make informed choices. EI has also been invaluable when it comes to learning about Ireland’s key trading partners and opportunities to scale Sovy by working with companies internationally.
What key piece of advice would you give to a Canadian company thinking of setting up in Ireland?
Take the time to meet the government and public-private partnerships that are set up to help your business become established and known and avail yourself of the many supports those organisations offer. Key organisations that you will want to connect with include Enterprise Ireland, the IDA, and groups like the Ireland Canada Business Association.